International Assets Investment Management LLC Buys Shares of 124,925 Teekay Tankers Ltd. (NYSE:TNK)

International Assets Investment Management LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 124,925 shares of the shipping company’s stock, valued at approximately $6,243,000. International Assets Investment Management LLC owned about 0.37% of Teekay Tankers at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its holdings in Teekay Tankers by 41.9% during the first quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock valued at $44,000 after buying an additional 301 shares during the last quarter. Toroso Investments LLC boosted its position in shares of Teekay Tankers by 7.0% in the third quarter. Toroso Investments LLC now owns 5,830 shares of the shipping company’s stock worth $243,000 after purchasing an additional 380 shares during the period. UBS Group AG boosted its position in shares of Teekay Tankers by 2.0% in the third quarter. UBS Group AG now owns 25,852 shares of the shipping company’s stock worth $1,076,000 after purchasing an additional 509 shares during the period. CWM LLC boosted its position in shares of Teekay Tankers by 10,816.7% in the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after purchasing an additional 649 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Teekay Tankers by 1.8% in the third quarter. Rhumbline Advisers now owns 37,950 shares of the shipping company’s stock worth $1,580,000 after purchasing an additional 684 shares during the period. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $57.68 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. The firm has a fifty day moving average price of $56.67 and a 200 day moving average price of $52.63. Teekay Tankers Ltd. has a fifty-two week low of $35.00 and a fifty-two week high of $64.42. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 3.88, a P/E/G ratio of 1.35 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. The company had revenue of $194.46 million for the quarter, compared to the consensus estimate of $219.93 million. As a group, sell-side analysts expect that Teekay Tankers Ltd. will post 14.28 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 1st. This represents a $1.00 annualized dividend and a yield of 1.73%. Teekay Tankers’s dividend payout ratio (DPR) is currently 6.73%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TNK. StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price target on shares of Teekay Tankers in a research report on Thursday, February 22nd. Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $72.00 in a research report on Friday, January 19th. Finally, Evercore ISI dropped their target price on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.